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The project consists of engineering, procurement, fabrication, transportation, installation and commissioning of three gas production decks with a high integrity protection systems and exotic materials that will protect the plant for a life of fifty years and more. Two of the decks will be installed in Hasbah and one in Arabiyah field of Saudi Aramco.

The significant award validates Aramco's confidence in selecting LTHE's offering for performance in fast-track implementation of complex offshore projects. LTHE has three fabrication yards and this project will be built at its flagship facility at Hazira, establishing a strong track-record to "design and build" offshore oil & gas projects.

Over the past three decades, LTHE has served the offshore oil & gas industry with consistent delivery that brings Oil Majors and National Oil Companies to place repeat orders on LTHE for challenging projects.

Rajesh Kakkar takes charge
as Director (Offshore), ONGC

Thesynergyonline Corporate Bureau

NEW DELHI, FEBRUARY 19 :
Mr Rajesh Kakkar has taken over charge of Director (Offshore) of Oil and Natural Gas Corporation (ONGC) today. As Director (Offshore), he will look after oil and gas production from ONGC’s offshore fields that contribute 70% and 78% of ONGC’s domestic crude oil and gas production respectively.

Mr Kakkar has more than three and a half decades of experience in the various aspects of operations and management in both offshore and onshore fields.

Mr Kakkar played a key role in reversing the production trend at Western Offshore in 2015. He has been pioneer of “field-life-cycle maximization” to enhance production from the ageing fields. Through many brownfield as well as marginal field development, he has ensured incremental production of oil and gas.

He has held key positions in various high-level committees and task forces concerning oil & gas development projects. He played a pivotal role in ensuring health safety and environment as far as the offshore operations are concerned.

Mr Kakkar is well-known for his people management and interpersonal skills to foster team approach to the operations.

Mr Kakkar holds a Bachelors degree in Mechanical Engineering with Honors from Ravi Shankar University, Raipur. He completed Global Managers’ program at IIM, Kolkata and Leadership Development Program at IIM, Bangaluru. He was recognized as the “Young Executive of the Year” in 1991 and also received Chairman’s award in 1992 for “Consistent Performance in Offshore Production Operations”.

ONGC led Indian Consortium to acquire 10% Stake in Lower Zakum Concession, Offshore Abu Dhabi
NEW DELHI, FEBRUARY 11: An Indian Consortium led by ONGC Videsh, wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), BPRL & IOCL signed a pact for acquisition of 10 per cent participating interest in the ADNOC Group owned offshore Lower Zakum Concession for 40 years from 2018 to 2057. This is the first time that Indian oil & gas companies have been given a stake in the development of Abu Dhabi’s hydrocarbon resources.

The Concession, which has a term of 40 years, was signed by Mr Shashi Shanker, Chairman, ONGC Group of companies and His Excellency Dr Sultan Ahmed Al Jaber, Chief Executive Officer, ADNOC Group and member of Abu Dhabi’s Supreme Petroleum Council, in the presence of Prime Minister of India Mr Narendra Modi and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the United Arab Emirates Armed Forces.
H.H. Sheikh Mohamed Bin Zayed and PM, Shri Narendra Modi witnessed signing of historic ADNOC Offshore Concession Agreement, awarding ONGC-Led Consortium 10% stake in Lower Zakum Offshore concession for 40 years for a participation fee of AED 2.2 billion.

Sixty percent of the participating interest will be retained by ADNOC and the rest will be awarded to other international oil companies. Lower Zakum is one of three separate offshore concession areas that were formerly part of the ADMA offshore concession.

The Prime Minister Mr Narendra Modi said ,"The ADNOC offshore concession in favor of the Indian consortium has taken our bilateral engagement in the oil and gas sector to a new level, which befits the comprehensive strategic partnership between India and the UAE."

ADNOC Group’s CEO, Dr Sultan Ahmed Al Jaber stated that this strategic partnership with ONGC and other members of the consortium would help India meet its growing demand for energy and refined products, and create opportunities for ADNOC Group to increase its market share in a key growth market.
Mr Shashi Shanker, CMD, ONGC Group of Companies stated “This agreement with ADNOC Group will bring a plethora of opportunities in the times to come.”

ONGC net profit up 15.2 %
q-o- q at Rs 5,015 crore

Thesynergyonline Corporate Bureau

NEW DELHI, FEBRUARY 09 : Oil and Natural Gas Corporation (ONGC) registered 15.2 per cent rise in standalone net profit on a year-on-year (y-o-y basis to Rs 5014.67 crore for the quarter ended December (Q3FY'18).

Revenues from operation rose 14.9 pe rcent on a y-o- y basis to Rs 22,995 crore for the quarter ended December which was slightly higher than the CNBC-TV18 estimate of Rs 22,888 crore.
The company reported revenue from the operation of Rs 20,013 crore in the corresponding quarter of last fiscal and Rs 18,964 crore in the previous quarter.

Earnings before interest, tax, depreciation, and amortisation rose 19.5 percent on a sequential basis to Rs10,919 crore for the quarter ended December 2017, compared to Rs9,136 crore reported in the previous quarter.